Telephone banking
From Wikipedia, the free encyclopedia
Telephone banking is a service provided by a bank or other financial institution that enables customers to perform over the telephone a range of financial transactions that do not involve cash or financial instruments (such as checks) without the need to visit a bank branch or ATM.
Telephone banking became commercially available in the 1980s, first introduced by Girobank in the United Kingdom, which established a dedicated telephone banking service in 1984.[1] Telephone banking saw growth during the 1980s and early 1990s and was heavily used by the first generation of direct banks. However, the development of online banking in the early 2000s started a long-term decline in the use of telephone banking in favor of internet banking.[2] The advent of mobile banking further eroded the use of telephone banking in the 2010s.
